SUMMARY
Singh said that the foundation of agritech startups has been laid in the Bhaderwah town of the Doda district in J&K which is a part of the Aroma Mission by the Union Ministry of Science & Technology
J&K is being nationally hailed as the birthplace of “Purple Revolution”, which is now being followed by the rest of the Himalayan states such as Uttarakhand and Himachal Pradesh as well as Nagaland
According to an EY report, India’s agritech startups are looking at a total market opportunity worth $24 Bn by 2025
Jammu and Kashmir is gradually emerging as one of the agritech startup hubs in India, said Union Minister Jitendra Singh.
Commenting on the Republic Day tableau at Kartavya Path depicting lavender farms of Bhaderwah, Singh said that J&K is being nationally hailed as the birthplace of “Purple Revolution”, which is now being followed by the rest of the Himalayan states such as Uttarakhand and Himachal Pradesh as well as Nagaland.
According to Singh, the foundation of agritech startups has been laid in the Bhaderwah town of the Doda district in J&K which is a part of the Aroma Mission by the Union Ministry of Science & Technology.
Such initiatives pave the way for an alternate source to propel the Indian economy, he said.
Over 3,000 flourishing lavender entrepreneurs from Bhaderwah have paved the way for the youth to take up a new and potential startup segment which is an exclusive domain of this country. This will add value to India’s future economic growth and realisation of PM Modi’s vision of “Viksit Bharat” by 2047, Singh said.
Further, addressing the Kisan Sammelan, organised by CSIR-Indian Institute of Integrative Medicine in Hiranagar, the minister said that the depiction of the lavender farms through a tableau, counts as a success story of the Aroma Mission under which the states of Himachal Pradesh, Uttarakhand and Nagaland have also taken up lavender farming.
To make it a success, the government took up initiatives including imparting training to the youth, ensuring industry linkages for lavender products, provision of other necessary logistical aid, among other things. The finished products are being sold across the country fetching a rich revenue for the farmers, Singh added.
Currently, the number of lavender farms and associated startups has now surpassed the 1.25 Lakh mark from a mere 350, thereby placing India at number three spot in this field in the world.
Today, with the emergence of the agritech space, India is standing on the cusp of a fourth revolution. Imperative to mention that the country’s agritech ecosystem is a juggernaut in the making. Having embraced IoT-enabled agricultural practices to now AI-enabled machines and tech, this burgeoning sector is writing the next chapter of the country’s farm story.
As tech penetration continues to rise through one of the world’s largest agricultural industries, Indian agritech startups are sitting on multi-billion-dollar opportunities. In fact, according to an EY report, India’s agritech startups are looking at a total market opportunity worth $24 Bn by 2025. And this potential is also being recognised by Indian and global investors, as these startups have secured more than $2.4 Bn since 2014, as per Inc42’s analysis.
